BALTIMORE (Stockpickr) -- In the complex world of hedge funds, one fund has managed to deliver outsized returns without dealing with complex investment strategies or exotic financial instruments. Instead, Eddie Lampert's firm, ESL Investments, has made some of the most impressive gains in the industry by doing extensive research to seek out investments in deeply undervalued stocks.
In the process, the 48-year-old hedge fund manager has distinguished himself quite a bit from the herd of other investment gurus on Wall Street. In 2004, Lampert was the first hedge fund manager to earn more than a billion dollars in a single year.
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With a net worth of $3.1 billion (as estimated by Forbes), Lampert is currently the third-richest resident of Connecticut, a state that's known for its hedge fund fortunes. He's also the youngest of the dozen billionaires who call the state home.Like many of the world's most successful value-focused hedge funds, ESL Investments takes on large, concentrated positions in a small number of stocks that the firm's investment team believes in. >>Also: 20 Stocks With Huge Insider Selling With that, here's a look at stocks that Lampert's firm is betting on in 2010.
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